The Sunday Times Rich List 2013 names Global Security Tycoon & Entrepreneur Dr Richie Nanda one of UK’s Wealthiest Residents
Richie Nanda’s wealth increased by over £20mn following 2012 entry in the list and 100% acquisition of The Shield Group
Dr Richie Nanda, Global Chairman of TOPSGRUP, India’s most preferred security solutions brand and the first Indian MNC to acquire Great Britain’s tenth largest business security services provider The Shield Group, has for the second consecutive time entered the prestigious Sunday Times Rich List 2013 with an almost £20mn increase in personal fortune, from £168mn in 2012 to £187mn. Richie Nanda is also the only entrepreneur from the British Security industry to be featured in the list.
The growth in valuation is attributed to Richie Nanda’s financial prowess and business sense when he completed 100% acquisition of The Shield Group, formerly The Shield Guarding Company Ltd, in July 2012. In the last financial year, both TOPSGRUP and The Shield Group displayed outstanding results with a growth in EBIDTA of 67%, and in the current financial year, its annual turnover is expected to be £170mn.
Richie Nanda has contributed to the success of the UK economy with the acquisition of the British security company The Shield Group, which has been hugely successful in driving forward the advancement of the United Kingdom’s security industry through its newly launched total security solutions delivery model. Under Richie Nanda’s guidance, vision and leadership, The Shield Group has quickly become the tenth largest business security services provider in the UK.
In particular, the inclusion of Richie Nanda and other prominent Asians in the Rich List also further enhances the successful synergy between the Asian Sub-continent and the UK. Britain is now benefitted by the considerable talents of a super-breed of Asian entrepreneurs, who all make a positive impact on the economy, contributing 6% to the UK’s GDP level, through a mixture of business interests, from security to steel, pharmaceuticals, property, finance and social care.
A self-made entrepreneur, Richie Nanda is regarded as a leader in the global security sector, ensuring the likes of high profile sporting events, businesses and premier venues are protected. He is widely acknowledged as the pioneer and the most prominent spokesperson of the burgeoning security industry in India. He was recognised as an Outstanding Entrepreneur of the Yearafter he took over the reins of TOPSGRUP at the age of 22, an ailing company with revenues of just £30,000 PA and eight customers, and built it into India’s largest security group with revenues in excess of £150 million, 93,000 employees, 120 offices and approximately 8,000 customers. The multi award-winning TOPSGRUP has also embarked on a global leadership mission with a vision to become the number one brand in the global security space and a US$10 billion security group by 2020.
Speaking about his inclusion again in The Sunday Times Rich List, Richie Nanda said: “Featuring in the Sunday Times Rich List for a second year running is an honour and reminds me of the sheer dedication and hard work that’s been placed into building this achievement. It’s purely a team effort and I owe this recognition to the 93,000 employees and 8,000 customers for contributing to this achievement and for their determination to make TOPSGRUP and The Shield Group one of the largest and most reputed security companies in the world. And we’re getting there.
2012 has been a pivotal year for the business: from the completion of acquiring The Shield Group, to consolidating our position in India as the market leader, and the re-structuring of the entire business in the UK to provide a unique delivery model to customers, based on a total security solution service. this has all led to growth in the companies, subsequently reflected in our EBIDTA and of course my personal wealth.
The growth in the industry also confirmed the importance of security as a service, especially within the business sector. There has been an increased demand from customers for more cost-efficient, high quality security services, especially in the face of more technical and varied security risks arising in the world and in the UK. As a result, The Shield Group has enhanced its tactics to deliver a more robust, risk-based and tailored comprehensive security solution for its customers, and we are reaping the awards from this.
I’ve always maintained that as two nations, India and the UK are very alike – they are nations of entrepreneurs and both countries in several cases, including in the case for Topsgrup and Shield, work concurrently to inspire entrepreneurialism, and that sometimes means taking a risk. We did that a year ago and are proud to say it’s paying dividends.”
The Sunday Times Rich List is a prestigious collection of the 1,000 wealthiest people in the United Kingdom. Richie Nanda joins the ranks of the super-rich steel magnate Lakshmi Mittal, industrialist Alisher Usmanov and Chelsea Football Club owner Roman Abramovich, as one of the wealthiest UK citizens born overseas but who predominantly work and/or live in Britain. The positive fortunes of the UK’s richest men and women flies in the face of the global Recession and the recent downturn of the British economy with a hope that these dynamic entrepreneurs will fuel an upsurge in the economy with their considerable wealth generation. Since its inception in 1989, The Sunday Times Rich List continues to be the definitive annual guide to showcasing Britain’s richest men and women across a broad spectrum of sectors.